TASK DEFINITION: In this task you will be given a passage and a yes/no question based on the passage. You should answer the question using the information from the passage.
PROBLEM: passage: The Goldfinch (Dutch: Het puttertje) is a 1654 animal painting by Carel Fabritius of a chained goldfinch. It is an oil painting on panel of 33.5 by 22.8 cm (13.2 by 9.0 in). The work belongs to the collection of the Mauritshuis in The Hague, Netherlands.
 question: is there a real painting called the goldfinch?

SOLUTION: Yes

PROBLEM: passage: On 7 April 1916, I Anzac Corps took up positions in a quiet sector south of Armentières, known as the ``Nursery''. The Australians were spared from participating in the disastrous first day on the Somme, nevertheless within three weeks of the beginning of the Allied offensive, four divisions of the AIF had been committed to the battle. Only the 3rd Division did not take part, having only just recently arrived in England from Australia. The 5th Division, positioned on the left flank of the salient, was the first to see action during the Battle of Fromelles on 19 July 1916, suffering a staggering 5,533 casualties in a single day.
 question: did australia fight in the battle of the somme?

SOLUTION: Yes

PROBLEM: passage: The Exit or Terminal Multiple Approach assumes a business will be sold at the end of the projection period. Valuation analytics are determined for various operating statistics using comparable acquisitions. A frequently used terminal multiple is Enterprise Value/EBITDA or EV/EBITDA. The analysis of comparable acquisitions will indicate an appropriate range of multiples to use. The multiple is then applied to the projected EBITDA in Year N, which is the final year in the projection period. This provides a future value at the end of Year N. The terminal value is then discounted using a factor equal to the number of years in the projection period. If N is the 5th and final year in this period, then the Terminal Value is divided by (1+k). The Present Value of the Terminal Value is then added to the PV of the free cash flows in the projection period to arrive at an implied Enterprise Value. Note that if publicly traded comparable company multiples must be used, the resulting implied enterprise value will not reflect a control premium. Depending on the purposes of the valuation, this may not provide an appropriate reference range.
 question: is terminal value the same as enterprise value?

SOLUTION:
No

